It was a cheerful start for the Indian Stock Market. Nifty opened on positive note at 5789.95 levels and closed with handsome gains of 78 pts. Nifty showed some strength and made high at 5843.15 levels and finally managed to closed in green at 5830 levels.
Nifty showed some recovery from support near 5,750 levels and closed in green with lower volumes, which shows bulls have not been fully able to show strength from lower levels. Nifty's short term trend is still down. If Nifty manages to show strength above 5,850 levels then recovery may be continuing.
For intraday tomorrow, trend deciding level is 5,830-5,850. If Nifty shows strength above 5,850 levels, then rally to 5,900/5,950 levels may be seen. If Nifty does not show strength above 5,830 levels then selling pressure till 5,790/5,750/5,700 levels may also be seen.
For intraday tomorrow, trend deciding level is 5,830-5,850. If Nifty shows strength above 5,850 levels, then rally to 5,900/5,950 levels may be seen. If Nifty does not show strength above 5,830 levels then selling pressure till 5,790/5,750/5,700 levels may also be seen.
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